Mihika Iyer
“Creativity is intelligence having fun.” - Albert Einstein
Having been the consummate Harry Potter fan, I have always been intrigued by magic, be it learning all the spells from the book or trying out messy experiments – those that involved bubbling potions (Like from Snape’s Class), gushing volcanoes, electrodes, fire, gases or slime.
It’s this passion that I shared with my sister that drove our parents crazy one summer, “One more slimy mess and ugghh!! Girls, can you please come and clean this up! Do something useful and productive,” our mother groaned.
Meanwhile, at school, the story was completely different. Our slime products became very popular; our classmates loved to play with them and often begged us for the recipes. One night while my sister and I were receiving our daily lecture about sliming up the dining room, I decided we should sell the slime and make some money. I quickly convinced my sister that it was a great idea as we went online to look for slime and found a wide array of slime products being sold on Instagram and Amazon. The fact that I found slime being sold on Amazon gave me the idea to think big. This was unknowingly the beginning of my STEAM journey.
As we started planning our new slime business, we focused on all aspects of running the business. I took on the role of CEO and my sister took on the role of CFO. We then reviewed the different array of products we would ideally like to sell and created recipes for different types of slime. After some experimentation, we started to investigate making slime using quality materials, but at the lowest cost. We researched various stores online and found the best places to purchase quality raw materials for the best prices. Some of the raw materials were cheaper when purchased from China (Daiso clay for example). So we had to think about what kind of demand we would see. We polled our friends to get an idea of what kind of slime they were most likely to buy. We considered this our test group and did a market analysis to understand demand.
We then created an excel spreadsheet of all the raw materials needed, the different types of slime products we planned to offer, the cost of making the slime and the revenue that we could make on the products. We created a type of slime using cocoa powder and chocolate essence and called it “Belgian chocolate slime.” We were surprised to find out that it sold for a premium price because of the exotic nature of the product. This was a lesson learned in advertising and marketing of the products made. With all of the information around market demand, cost, revenue, product design and catalog, product roadmap etc., it was time to think about the business presence.
We had options to construct the business like a lemonade stand model and sell it locally. I searched online to figure out how I could set up an online store to sell our slime. There were many platforms to do that – shopify, wix, ebay or etsy. Therefore, as my research showed, it was not too difficult to set up an online store. I therefore set up a website and an online store.
During our summer vacations, we visited Udne Ki Asha and Akshay Patra, so we decided to donate the profits from this business towards those charities. Setting up the website was mostly about making sure our plan was clear and that our products were highlighted. We took creative pictures of our products and created a rolling marquee of them. We then enabled the store and populated the products. For each product, we had options like size, add-ons, and had to populate prices based on the selections. When it came to shipping, we had to look up USPS rates based on weights and include shipping costs. Finally, we integrated with square to allow for online payments and tracking.
Next, we created a video compilation of the girls from the non profits we visited during our trips to India. We showcased how the girls we met had big dreams and how the money that was spent to purchase slime would be used to help them achieve their dreams. We used software like Windows Media Player and iMovie to create the videos. Our website was clean and easy to make and the store products were populated clearly. So, we launched it to our test group and found that they had questions as they put in orders. Additionally, we wanted to enable a chatbot that helped to interact with our customers.
As I researched some more, I found that there was a chat extension that could be added to the website. This meant that whenever any user was on the website, I could use my mobile phone app to interact with the user and answer any questions they had about the products. This helped with customer satisfaction and engagement with the customers. We created an Instagram, Facebook and Twitter page to advertise our slime products. We found out that there was a way to optimize SEO so that our website would receive a hit whenever people looked up slime. Instagram and Facebook provided capabilities for fixed campaigns where they would serve our page to specific localities or demographics. By doing this, we started getting orders from Israel, Turkey, India and of course all over the USA. The e-commerce software helped us to track orders, mark orders that were fulfilled, contact customers with questions about their orders and track revenue that we made. We also got donations for the work being done and used it towards the charities. We compiled a list of users that had ordered from us and sent them updates with new products and services. We were asked to run slime birthday parties and helped to create Easter Eggs with slime for egg hunts. We learned that seasonality is something that we can take advantage of to create new products and launch those using new campaigns.
Thus, by the end of summer, we raised $1600 towards the charities and had learned about all aspects of running our own global business. In sum, while I am not really big into coding and ecommerce, the current technologies are very easy to use and made it very easy to go big with my idea.
Mihika is a rising junior in Watchung Hills high school, NJ. She has been interning with us at Aspire Artemis this year. She is currently running a podcast series titled InspireHer and as part of that effort has created a nonprofit called Ladyship focused on trying to create awareness and bring the wisdom that women in businesses have learned to early in career women who will be entering the workforce in this upcoming decade. She is passionate about understanding how public policy could and should change to accommodate women in the workforce and finding solutions for women to comfortably navigate the workforce.